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| Mentor 4 CA |
Virat Kohli
appointed as the Brand Ambassador by Punjab National Bank
Punjab National Bank roped in
Indian test skipper Virat Kohli as brand ambassador for improving its image
which has taken a hit due to rising bad loans.
On the occasion Kohli said ‘PNB
is Mera Apna Bank’ as he has been an account holder of the bank since the age
of 16 years.
Since its inception in 1895, it
said, PNB has been people’s bank serving millions of customers throughout
India.
Over the years, PNB has grown
from strength to strength and has established itself as a major player in
Indian banking space, it said, adding, the bank has remained a trusted name in
banking, attending to all the segments of the society.
For the first quarter ended June,
the bank’s profit declined by a 58 per cent to ₹306 crore on account of
mounting bad loans.
During the quarter, provision
towards non-performing assets (NPAs) has jumped almost three-fold to Rs 3,620
crore from Rs 1,291 crore in the same period a year ago.
The Gross NPAs rose significantly
to 13.75 per at the end of June 2016, from 12.9 per cent in the year-ago
period. The net NPAs too rose to 9.16 per cent against 8.61 per cent in June
2015.
In absolute terms, the gross NPAs
of the bank more than doubled to Rs 56,654.09 crore from the year-ago levels.
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